DECLARATION OF SOLVENCY FOR BUYBACK

Form SH – 9 is a declaration for solvency related to buyback of securities. We have discussed rules related to declaration of solvency earlier here. Here, we will discuss contents of the declaration.

Following information is required to be given in this form:

Whether company is listed, name of stock exchange, Date of listing, Name of Merchant Banker,

Date of board of director’s resolution authorising buyback

Following documents shall be attached:

1. Copy of board resolution
2. Statement of assets and liabilities
3. Auditor’s report
4. Affidavit as per rule 17(3)
5. Copy of Special Resolution

Declaration:

We solemnly declare that we have made a full enquiry into the affairs of the company including the assets and liabilities of this company and have noted that the shareholders by a special resolution dated ____ And/or the resolution passed by the Board at its meeting held on ___ have approved the buyback of ____ (in numbers) _______ (in words) shares or other specified securities as per the provisions of section 68 of the Companies Act, 2013.

Verified this day the ____ day of ______.

The Form is required to be digitally signed by two directors, one of whom shall be the Managing director.